BANGKOK – On Friday, U.S. futures saw a slight decline, while Asian markets displayed a mixed performance. Notably, Tokyo’s Nikkei 225 hovered near its all-time highs.

Meanwhile, gold and silver prices soared to new heights, continuing their impressive climb this year. Investors, including central banks, are increasingly turning to these precious metals as a safe refuge amidst global uncertainties.

Gold’s value rose by 0.8%, reaching $4,538.80 per troy ounce, while silver experienced a significant 4.5% surge, hitting $74.90 per ounce.

The recent spikes in gold prices have been partly attributed to concerns surrounding the U.S. government shutdown. Additionally, anticipation of further interest rate cuts by the U.S. Federal Reserve, which could weaken the dollar, has bolstered gold purchases.

Stephen Innes from SPI Asset Management remarked in a report, “Gold acts as a stabilizing force when the world feels unanchored. Historically, when political tensions rise, currencies destabilize, or inflation takes hold, gold remains the steadfast asset that the global market trusts.”

In share trading, Tokyo’s Nikkei 225 advanced 0.8% to 50,822.25 after the Cabinet approved a record defense budget plan exceeding 9 trillion yen ($58 billion) for the coming fiscal year. Prime Minister Sanae Takaichi’s government aims to fortify Japan’s strike-back capability and coastal defenses with cruise missiles and unmanned arsenals at a time of aggravated tensions with China.

Heavy industries and high-tech companies led the advance.

The dollar rose to 156.09 Japanese yen from 155.83 yen. The euro climbed to $1.1787 from $1.1785.

Markets in mainland China slipped, with the Shanghai Composite index shedding 0.2% to 3,952.09.

South Korea’s Kospi picked up 0.3% to 4,120.04, while Taiwan’s Taiex jumped 0.6%.

Shares fell in Thailand and India.

Elsewhere the region, markets in Hong Kong, Australia, New Zealand and Indonesia were closed. Most European markets will remain closed Friday, while Wall Street will reopen to a full day of trading after the Christmas holidays. Volumes will likely remain light since most investors have closed out their positions for the year.

In other dealings early Friday, U.S. crude oil gained 6 cents to $58.41 a barrel and Brent crude added 4 cents to $61.84 a barrel.

Oil prices have fallen recently after spiking near $70 a barrel in June.

The price of bitcoin rose 1.7% to 89,300.